#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
For a decreasing-cost industry, as industry output increases, input (factor) prices decrease as the industry demand for inputs increases. This results in a negatively sloped long-run industry supply curve.
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iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p89
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